Export Processing Zone( EPZ) is industrial estates that are enclaved by Domestic Tariff Areas( DTA) such as tariffs or quotas. These are generally usually situated near to port and airport to get easy accessibility to the Internation market. The intention of making EPZ was to provide a duty-free environment for export purposes and make competitive prices and quality.
EPZ is not a new concept, it was stated in 1965 as 100 % export Oriented Units. Nowadays most Export Processing Zone are converted into Special Economic Zone that is most advanced from the export processing zone.
For example, Kandala, Santa Cruz, Cochin, and Surat are converted into a Special Economic Zone in 2000.
A Special Economic zone is free from rules and regulations governing imports and export except for labor and banking rules.
The following are export processing zone in India:
- Kandal( Gujarat); First EPZ was set up in 1965 which was also Asia's first export processing zone.
- Santa Cruz( Mumbai), for electronic goods, gems, and Jewelry items.
- Falta( West Bengal)
- Noida( Uttar Pradesh)
- Cochin ( Kerala)
- Chennai( Tamil Nadu)
- Vishakhapatnam ( Andhra Pradesh)
- Surat Export Process Zone
Department of commerce in the ministry of commerce, the government of India is the apex body responsible for the country's external trade and all matters.
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